In a major breakthrough, the Uttarakhand Police’s Special Task Force (STF) and Cyber Police Unit have arrested Kailash Saini from Sikar, Rajasthan, for his involvement in defrauding a Haridwar resident of Rs 1.4 crore in an online stock trading scam.
The victim, a Haridwar resident, filed a complaint with the Dehradun Cyber Police Station last year, detailing how he was lured into investing large sums of money after initially being promised lucrative returns on small investments. According to STF officials, Saini, who posed as an Indian broker on an online trading platform, first contacted the victim using an international number with a UK ISD code.
To gain the victim’s trust, Saini initially led him to invest Rs 12,000, which yielded a return of Rs 16,000. Encouraged by the early profits, the victim then proceeded to invest larger sums. Over time, he invested a total of Rs 1.43 crore, convinced by the success of the earlier investments. However, once the money was transferred, Saini severed all communication, leaving the victim with no recourse.
Upon further investigation, it was found that the same bank accounts used by Saini in this scam were linked to at least 16 other fraudulent activities across India. Authorities are now working to uncover more details and arrest any additional suspects involved in the network.
